Trump Crypto Deals Provoke Senate Backlash and Calls for Investigation
Some Democrats who had supported legislation for so-called stablecoins are now demanding tougher language to prevent fraud and money laundering.
It Is Happening Every Day, Every Where
Some Democrats who had supported legislation for so-called stablecoins are now demanding tougher language to prevent fraud and money laundering.
A deal for a state-backed Emirati firm to use a Trump-affiliated digital coin was announced in a panel that included the president’s son and his business partner, who promised, “This is only the beginning.”
World Liberty Financial has eviscerated the boundary between private enterprise and government policy in ways without precedent in modern American history.
The offer, which caused President Trump’s memecoin to surge in price, was his family’s latest effort to profit from cryptocurrencies.
World Liberty Financial, the crypto business created by President Trump and his sons, unveiled a cryptocurrency called a stablecoin, furthering his ties to an industry his administration regulates.
The first-of-its-kind event at the White House with top crypto executives and the president showcased Mr. Trump’s embrace of the once renegade industry.
The new business venture by the Trump family is generating intensifying criticism, even as it has turned into an overnight phenomenon, generating a windfall on paper.
The president-elect and his family have a direct and potentially lucrative stake in the sale of a cryptocurrency product that surged in value in the hours after going on sale, days before his inauguration.